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Many foreigners buy condominium units or villas for retirement or holiday purposes in Nha Trang.
Compared to Da Nang, the city relies heavily on tourism and doesn’t have as much commercial activity as Ho Chi Minh, Hanoi, and Hai Phuong.
Its relaxed vibe, tasty seafood, and low real estate prices make Nha Trang one of the prime options for real estate buyers. Before you buy real estate here, you must get your feet first though.
In this article, we review some of the most important topics for foreign real estate buyers.
- Nha Trang as a Tourist Destination
- Buying Villas in Nha Trang
- Buying a Condo in Nha Trang
- Realtors in Nha Trang
Nha Trang as a Tourist Destination
Nha Trang is slightly smaller than Da Nang and the 6th biggest city in Vietnam with a population of around 600,000. Being located between Ho Chi Minh and Da Nang has other major cities just around the corner.
With a 6 km long beach line and considered to have one of the most beautiful bays in the world, a reason why many retirees decide to buy property here.
Having said that, the demographics have changed in recent years and you’ll mainly encounter Russians and Mainland Chinese while in Nha Trang. Of course, it also depends on where you stay.
When I worked in China, colleagues often told me about their holiday plans to go to Nha Trang, mainly due to less strict visa regulations, low costs, and the short distance with flight.
This was not the case before when we mainly saw Australians and Americans visiting the city.
Airline companies have seen an increased interest from mainland Chinese people and several new direct routes have opened from places like Nanning and Zhengzhou for example.
You can also find cruises that depart from Southern China to Nha Trang and that have food and entertainment
Buying Villas in Nha Trang
If you want a more exclusive experience and more privacy, a villa might be the right choice for you. Let’s have a look at the Northern and the Southern parts of Nha Trang and what makes each area special.
The Northern Parts
The Northern parts of Nha Trang are the home to many of the city’s locals. This area doesn’t have as many tourist attractions as the Southern part, but should not be overlooked.
You’ll be able to find 2-bedroom villas for around USD 200,000, even if you have the option to buy villas for up to USD 500,000.
It all comes down to the standards you require, but for a price of USD 200,000, you’ll be sure to find a spacious villa that is highly liveable.
The Southern Parts
The Southern part is more bustling compared to the Northern side and you’ll find more tourist attractions here. More foreigners decide to stay here in general.
The prices are a bit more expensive compared to the Northern parts. You’ll be able to find a 2-3 bedroom villa ranging between USD 100,000 – 300,000.
As you can see in our separate article about property for sale in Nha Trang, there are many premium villa projects available.
One example is Mövenpick Resort Cam Ranh. Located a short drive south of Nha Trang, it’s a luxury resort and designed with local Vietnamese architecture.
Villas start at USD 600,000+ and the area has hundreds of villas and apartments. Residents have access to a beautiful view of the sea along an 800-meter long shoreline.
Buying a Condo in Nha Trang
One of the main problems foreigners face is that we can only buy branded villas belonging to a project, such as Mövenpick, which comes with a higher price tag.
Besides, villa projects are often dedicated or local buyers only, and foreigners cannot own land on a freehold basis. This is the standard in Southeast Asian countries.
Condos have sprung up as a popular option for real estate buyers. Condo units are generally cheaper than villas and easier to maintain as well.
As Nha Trang primarily attracts tourists that stay for a week or two, you’ll notice that there’s been a large supply of so-called condotels.
In short, these are hybrids of condominiums and hotels as you can rent out the units on a short-term basis. You get a guaranteed rental income and the operator manages the building on behalf of you.
Condo Prices in Nha Trang
You can easily find new and well-maintained 2-bedroom condos that sell for as little as USD 70,000. If you decide to go a bit North, the prices might well come down to USD 50,000 – 60,000.
For a 3 bedroom apartment with 2 bathrooms, the price will increase a bit and start at USD 100,000.
These are bargain prices compared to buying an apartment in the central districts of Ho Chi Minh, or any beachside apartment in the popular areas of Da Nang.
I highly recommend you find a realtor who can help you to find an apartment that suits your needs and that is located in a preferred area.
It’s also important that you stay up to date with the local property prices, as Nha Trang is, at the moment I’m writing this article, one of the top 3 spots for Chinese people going to Vietnam.
Realtors in Nha Trang
When you search for a realtor in Nha Trang, be sure to find one that communicates in English.
I also recommend you to ask for previous customer testimonials or case studies to prove their experience of handling foreign customers.
It’s important that the foreign ownership quota isn’t filled, which is 30% for condominium projects. You should also assure that you will receive the pink book at a later stage, for full ownership rights.
Looking at realtors in Nha Trang, some of the biggest are:
- Nha Trang Consultation
Savills primarily focuses on property management here and you won’t find multinationals’ headquarters where they conduct research.
You will have to go to the bigger cities to find that.
Below you can find some commonly asked questions and our replies. If there’s anything else you wonder about, feel free to write a comment below.
Can foreigners buy land in Nha Trang?
No, foreigners are not allowed to buy land in any part of Vietnam as it’s owned by the people and controlled by the state.
Can I rent out a property in Nha Trang?
Yes, foreigners generally don’t have any issues to rent out a property in Nha Trang. Many units are promoted for buy-to-let purposes so that you can earn rental income.
Do I have to live in Nha Trang if I buy property there?
You don’t have to live in Nha Trang if you buy property there. You can reside overseas and rent your unit on a short-term or long-term basis.
Nha Trang is famous for having one of the most beautiful bays in the world and receives a lot of foreigners each year.
If you want to buy a decent villa for as little as USD 200,000, Nha Trang can be a considerable choice. You can read more about Nha Trang property for sale in our separate article.
Since 2015, ownership regulations have relaxed remarkably and you’ll be able to buy property by merely a tourist visa.
If you want to know more about foreign ownership and information about buying property in Vietnam, I recommend you read my guide about buying property in Vietnam.